Cornerstone Folsom Gardens Corporation II

Analysis

Cornerstone Folsom Gardens Corporation II is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in July 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cornerstone Folsom Gardens Corporation II reported income of $620k and spending of $573k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $465k to $620k (+33%), an average of +7.5% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornerstone Folsom Gardens Corporation II sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within CO. Charities of a similar size with the same main cause include The Salvation Army Lake View Terrace Residences Inc ($620k), National Capital Treatment and Recovery Property Management ($620k) and Mhany Dumont Housing Development Fund Corporation ($620k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 46% of the total. At year end it held assets of $1.4m against liabilities of $76k, net assets of $1.3m.